The White House issued the financial advisory with other government agencies as a part of a broader cooperative effort “to end the fentanyl epidemic.” As such, methods of payment were studied, including virtual currencies.

The July 2017 takedown of dark market AlphaBay by U.S. officials is given as an example of past interaction between virtual currencies and illicit substances.

Included in the report is authority methods of tracking and discovery payments for illicit substances using CVC’s such as wallet and IP addresses along with transaction hashes.

Earlier today, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) blacklisted three Chinese nationals for money laundering and drug smuggling laws.

Drugs image via CoinDesk archives

OhNoCrypto

via https://www.ohnocrypto.com

William Foxley, Khareem Sudlow

White House Advisory Says Virtual Currencies Used for Fentanyl Purchases
Reviewed by BruceDayne
on
August 21, 2019
Rating: 5